CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash investments	$ 316	$ 559
Receivables	1,321	1,153
Prepaid expenses and other	110	108
Inventories:
Finished goods	592	520
Raw material	319	325
Work in process	100	101
Total inventories	1,011	946
Total current assets	2,758	2,766
Property and equipment, net	1,222	1,223
Operating lease right-of-use assets	225
Goodwill	889	898
Other intangible assets, net	392	406
Other assets	116	100
Total assets	5,602	5,393
Current Liabilities:
Accounts payable	954	926
Notes payable	295	8
Accrued liabilities	680	750
Total current liabilities	1,929	1,684
Long-term debt	2,771	2,971
Other liabilities	860	669
Total liabilities	5,560	5,324
Commitments and contingencies (Note O)
Masco Corporation's shareholders' equity:
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2019 – 291,500,000; 2018 – 293,900,000	291	294
Preferred shares authorized: 1,000,000; Issued and outstanding: 2019 and 2018 – None	0	0
Paid-in capital	0	0
Retained deficit	(314)	(278)
Accumulated other comprehensive loss	(123)	(127)
Total Masco Corporation's shareholders' deficit	(146)	(111)
Noncontrolling interest	188	180
Total equity	42	69
Total liabilities and equity	$ 5,602	$ 5,393

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).